TIAA Trust National Association Sells 7,937 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• TIAA Trust National Association reduced its stake in Stryker Corporation by 18.3% in the first quarter, holding 35,328 shares worth approximately $13.15 million after selling 7,937 shares.
• Analysts have a consensus rating of "Moderate Buy" for Stryker, with 16 buy ratings and an average price target of $429.35.
• Director Ronda E. Stryker sold 200,000 shares at an average price of $376.96, reducing her position by 5.53% and maintaining 3,417,326 shares valued at over $1.28 billion.

TIAA Trust National Association cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,328 shares of the medical technology company's stock after selling 7,937 shares during the quarter. TIAA Trust National Association's holdings in Stryker were worth $13,151,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Stryker by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the period. FMR LLC raised its position in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Northern Trust Corp grew its position in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after acquiring an additional 420,153 shares during the period. GAMMA Investing LLC raised its holdings in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Stryker by 15.3% during the 4th quarter. Invesco Ltd. now owns 2,007,105 shares of the medical technology company's stock valued at $722,658,000 after buying an additional 266,587 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research reiterated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research note on Monday. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Roth Mkm upped their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $430.10.

Stryker Stock Performance

Stryker stock traded up $3.37 during midday trading on Thursday, hitting $378.31. The stock had a trading volume of 138,180 shares, compared to its average volume of 1,441,439. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 52-week low of $320.78 and a 52-week high of $406.19. The company has a market capitalization of $144.63 billion, a PE ratio of 50.29, a P/E/G ratio of 2.77 and a beta of 0.91. The firm's fifty day moving average is $387.39 and its two-hundred day moving average is $380.33.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. Stryker's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is currently 44.50%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.